Numbers to love about Birmingham area
BYLINE: Michael Shattuck, For The Birmingham News
Economic developers frequently work with consultants that are charged with finding the optimal city for a new or expanding business. The method of eliminating cities until the one that best accommodates the needs of the business prospect is referred to as the site location process.
The initial stage of the site location process is an analysis of all the cities under consideration using basic economic statistics - population, economic structure, work force or transportation. Economic statistics are numeric values that paint a picture of the city so the consultant can eliminate a city for consideration of the prospect without visiting the site.
The population size and economic diversity of the Birmingham region bodes well for a broad range of economic statistics. I've listed some numbers consultants may review when considering the Birmingham region for a new or expanding business. These may be mere numbers, but to the consultant they have much more meaning, encompassing a broader economic scope.
--> 1,090,126: The number of people in the Birmingham-Hoover metropolitan area. Our metro ranks among the top 50 largest in the United States and among the top 15 largest in the Southeast. A top 50 metropolitan population and a 1 millionplus number places Birmingham on the short list of ''major'' population centers.
--> 62,000: The number of people employed in education and health services. More than 12 percent of the region's work force work in hospital-related business and educational establishments. UAB is Alabama's largest employer with more than 18,000 workers.
--> 40,300: The number of people employed in financial activities. In spite of recent mergers, more than 8 percent of the region's work force is employed in banking, insurance and related businesses. Our banking stature is reinforced by the RegionsAmSouth merger, which will create a top 10 banking institution based in Birmingham with more than $140 billion in assets.
--> 40: The number of miles from central Birmingham to the Mercedes-Benz plant in Vance and the Honda plant in Lincoln. Birmingham's strategic position between two major automotive manufacturing facilities has attracted automotive suppliers such as Ogihara, Dechoma Systems and Plastech, creating thousands of automotive related jobs.
--> 88,855: The number of students enrolled in universities, colleges and technical schools within an approximate one-hour radius of downtown Birmingham. The Birmingham economy has a vital source of brain power as graduates from more than two dozen post-secondary education institutions target the region for employment.
There are practically thousands of economic statistics from which a consultant may choose to evaluate cities or metropolitan areas. The statistics used during the site location process are dependent on the type business the consultant is representing. A biotechnology business will have different location requirements than an automotive supplier, a bank operations center or retail establishment.
The strength of the Birmingham region is we do not have a specific economic niche. We are composed of several economic specialties in one manageable midsize metropolitan area. A leading medical and life sciences community, a large financial services sector, a major automotive cluster and a blossoming technology sector ensures a favorable number for several economic statistics. The Birmingham region is nicely positioned to be on the consultant's short list for many years to come.
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As director of business development, Michael Shattuck is the numbers guy at the Metropolitan Development Board, the area's chief economic development agency.